Hey there,

This is my very first article right here so hopefully this gets approved, I am going to share some factors about bitcoin and blockchain.

For those of you who do not know what Bitcoin is let me put it this way, Bitcoin is a currency which can’t be controlled by any bank or any authorities, it is basically a virtual currency and can be purchased online using real money.So then apart from being a decentralized currency what are its advantages, well you possibly can transfer bitcoin anyplace in this world without much charges, you might be 100% anonymous while doing transactions thanks to a technology called blockchain.So then what is the big thing about this you could ask, well let me tell you when it first launched it has completely no worth however now 1 bitcoin = 6,689.35 $ that is some pretty spectacular progress is not it?.

So how does this thing grow you might ask, well let me inform you the right way to maintain a blockchain there must be something called a ledger the place all of the transaction has to be noted and to grow to be a block in a blockchain a hashing function needs to be solved and producing bitcoin by solving hashes are called Mining Bitcoin.

To resolve the hashing operate typically people used graphics cards however as time passed by bitcoin bought more difficult to mine and dedicated hardware called ASIC miners have been introduced.

So people who spend their money and time to mine bitcoin will be rewarded in bitcoins and as more and more folks change into part of this blockchain its value will increase.

so how can I make cash with bitcoin, there are two ways

1.you’ll be able to trade bitcoin/altcoin(any cryptocurrency apart from bitcoin is called altcoin, yes there are millions of them)

2.you can mine them in your own

Both of these methods have their own advantages and disadvantages, because bitcoin is managed by nobody it is extraordinarily unreliable in the future it may be value 10,000$ and the subsequent day it may drop to one hundred$. Trading essentially means buying bitcoin for real money and praying that its value will go up and selling it when it has gone up.This approach is very risky and chances are you’ll end up dropping cash rather than making any profit.

Otherwise you might choose to mine bitcoins, but here is what you need to consider, mining hardware is super costly and mining requires a number of electricity,additionally mining problem is getting higher every day so that you won’t be able to get some profits without high initial investment.

That being said bitcoin trading and mining are two good ways to make cash when you know what you are doing.

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